The Denver-based company, which sells AI software to manage and analyze large amounts of data, on Monday said it now expects revenue between $4.14 billion to $4.15 billion for the year, up from a prior outlook of $3.89 billion and $3.9 billion.

Palantir reported more than 50% growth in earnings from U.S. government contracts last quarter, boosted by the White House’s push for cost-cutting and adoption of artificial-intelligence technology. The company,

Palantir Technologies (NYSE: PLTR) soared over 6% in premarket trading on Tuesday after delivering a blowout second-quarter earnings report that marked a major milestone: its first-ever quarter with revenue exceeding $1 billion.